Grovenor ranked top neighbourhood to buy real estate in Edmonton

Grovenor – a residential neighbourhood in west Edmonton – is the top neighbourhood to invest in for real estate in the city, according to MoneySense’s annual Where to Buy Now list.

Every year, MoneySense tracks real estate prices across Canada and uses a data-driven test to capture the hottest real estate markets in the country with the most potential to continue to rise.

Here are the top five Where to Buy Now neighbourhoods in Edmonton:

Neighbourhood

Average Price

Grovenor

$360,947

Sherbrooks

$338,838

Dovercourt

$338,838

Prince Charles

$338,838

McQueen

$360,947

Where to Buy Now covers Canada’s 35 major cities and also goes deep to judge almost 2,000 real estate markets at the local neighbourhood level in nine of the country’s largest urban centres, including Toronto, Vancouver and Montreal.

The ranking is based on the following:

momentum in recent real estate transactions;

real estate value relative to nearby cities or districts;

health of the local economy;

price level of local rental markets;

and a survey of real estate agent experts on markets.

For 2017, MoneySense has declared Guelph as the most attractive city for real estate investment value in Canada. Known as “The Royal City”, Guelph is located about an hour West of Toronto.